Cosmetics profits to the boom of Chinese travellers
With the world's obsession with plastic surgery and some of the fastest developing technology beauty, wellness and cosmetic lines in the world, South Korea is a bona fide beauty destination. Cosmetics companies and duty-free shops in South Korea are seeing a continuous rise in stock prices because of soaring numbers of Chinese female tourists, according to a report by Huanqiu website.
Tourism in Korea574,000 Chinese traveling to the Republic of Korea in June, accounting for 45 percent of all foreign tourists. Among Chinese travelers, 305,000 of them were women, the report said, citing statistics from the South Korean financial investment and tourist information system.
In June, cosmetics exports to China, including Hong Kong and Taiwan alone account for 54.7 percent of total exports of South Korea cosmetic, custom data showed.
Chinese Tourists SpendingWith considerable purchasing power, Chinese tourists have become women of concentration in the market for South Korea, Yonhap quoted the report. Chinese women should be the main force to promote the development of industry and cosmetics stores in South Korea duty they are increasingly becoming key players in consumption, said a researcher at South Korea's SK Securities Co Ltd.
South Korean cosmetics makers LG Household & Health Care Co Ltd and AmorePacific saw their share prices rise by 8 percent and 20 percent respectively during the period from 1 July to 1 August
Share price of Shilla, a South Korean operator of luxury hotels and duty-free shops, rose 24 percent during the same period.
South Korea is mulling regulations on easing visa procedures and the creation of resorts and casinos to attract more Chinese tourists and boost the tourism industry as a new growth engine, Yonhap reported Sunday, citing government sources.
They like Beauty ProductsAccording to a survey by the government want the article tourists to buy the best on a visit to the Korean beauty products.
And with good reason. Introduce Korean cosmetics brands products from exotic ingredients seemingly made every month - Jeju Iceland volcanic clay, soybean, traditional Korean medicine and, of course, snail courage.
Cool concept brands debut every year. In 2012 it was Frostline "the world's first cooling skin care -line".
The foreign tourists, Chinese and Japanese Korean dish for beauty products at the most. After Amore Pacific, the largest cosmetics company in the country, with 40 percent market share accounted for Chinese tourists for a whopping 40.1 percent of total domestic sales in 2011, while Japanese tourists accounted for 9.1 percent.
"We see the Chinese customers buy four fifty-seven sets of Sulwhasoo Timetreasure line at a time as gifts," says spokesman Amore Pacific Sunghae Kweon. In US $ 886 price, Timetreasure is the most expensive line in the portfolio of the cosmetic group.
Here's what to grab while you're in town. Incheon duty free is the one exception we are our strict prohibition on gifts purchased at the airport to make.